Powerful, Greedy Enterprise, known as PG&E, is a public utility that operates several power plants to generate electric power and networks to distribute that power to its customers. As such, it is regulated by FERC and, accordingly, adopts the regulatory accounting method. In 20x1,PG&E spent tens of millions of dollars repairing and maintaining its turbine and network and capitalized such amounts on its AFS. May PG&E deduct these costs on its tax return, on the grounds that these expenditures do not result in a betterment, What are merely routine, normal, routine repairs and maintenance?